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Nov 14, 2012
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house speaker john boehner kicked things off there. nothing directly in terms of commenting about what the president said today about wanting to raise the tax rates on the highest income earners. the american people need to see us act courageously and lead boldly and expects the president to do the same. >> the president didn't say much. the president was very vague. he didn't say anything about spending cuts and didn't talk about entitlements but just about doubling up the tax bigs. that sounds like a guy who is digging in. it doesn't sound constructive on a day when i thought the president was very aggressive and his tone did not send one conciliatory feel. >> sounds like stalemate. >> that's digging in your heels. i don't think that is particularly market bullish. >> not given the action we saw today. >> thanks for stopping by. it is time to set the record straight when it comes to net flex. how likely is a deal? our traders have answers. big lockup expiration brings a day of reckoning for facebook. telling you what to watch for. ho
house speaker john boehner kicked things off there. nothing directly in terms of commenting about what the president said today about wanting to raise the tax rates on the highest income earners. the american people need to see us act courageously and lead boldly and expects the president to do the same. >> the president didn't say much. the president was very vague. he didn't say anything about spending cuts and didn't talk about entitlements but just about doubling up the tax bigs. that...
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Nov 16, 2012
11/12
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that's when speaker boehner spoke. listen to this. >> i believe that we can do this and avert the fiscal cliff that's right in front of us today. >> is this really what led to today's midday turn around, or was it something else? let's talk about that. quincy crosby joins us. mark spellman and kevin carone. quincy, is it that simple? they came out, they used the word constructive, framework, corner stone, all those positive words, and the market took off. >> absolutely. i was watching the body language when they finished up. they walked together. they didn't separate. the market kept making gains. it was that immediate. >> mark, do you agree? >> yeah, i think it was important. we've been looking for good news. the fact that everyone's heels aren't dug in quite as badly, it's good news and what otherwise has been a bad news market. >> kevin, i want to ask you, though, even if we get a deal, okay, great. tick, check. like the elections, check. we've still got a lot of longer-term fundamental problems. i don't know. just
that's when speaker boehner spoke. listen to this. >> i believe that we can do this and avert the fiscal cliff that's right in front of us today. >> is this really what led to today's midday turn around, or was it something else? let's talk about that. quincy crosby joins us. mark spellman and kevin carone. quincy, is it that simple? they came out, they used the word constructive, framework, corner stone, all those positive words, and the market took off. >> absolutely. i was...
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Nov 16, 2012
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john boehner did offer framework. the framework would have tax and entitlement targets, revenue targets, spending targets, that this year in the next couple months. congress would work out the details in 2013. both leaders from both parties and both houses say it is time to get to work. >> we will continue to have revenue on the table. we are serious. we are serious about cutting spending and solving our fiscal problems. >> we will do it now. we feel very comfortable with each other. this is not something we will wait until the last day of december to get it done. rich: they met for a little longer than an hour here at the white house. much of the talk was positive. there really is not anything close to specifics right now coming from anyone in all of this. here he read and nancy pelosi really did not mention entitlement at all. rich o'connell highlighted the fact that his conference in the senate believes that this country does not have a taxing problem, it has a spending problem. there are still two very different b
john boehner did offer framework. the framework would have tax and entitlement targets, revenue targets, spending targets, that this year in the next couple months. congress would work out the details in 2013. both leaders from both parties and both houses say it is time to get to work. >> we will continue to have revenue on the table. we are serious. we are serious about cutting spending and solving our fiscal problems. >> we will do it now. we feel very comfortable with each...
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Nov 15, 2012
11/12
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i think john boehner has made some really good statements. i think the president has made some good statements. one of the things that i learned was that you have to keep a couple of things in mind. deficit reduction in the end is political poison for the people that have to vote for it and so we really need to encourage the public, not just the decision makers, but the public to understand that this is an exercise in short-term pain to get long-term gain. that the objective here is to get a growing economy, jobs created in the united states, get our economy moving robustly again and that we've got to get our budget straightened out to help do that. the other thing you have to remember is you've got 535 people in the congress. this is not just the leaders so the administration has got to engage a large number of those people, if not all of them, in an exercise where they analyze together the actual concrete steps you have to take to get the budget straightened out. >> problem is many of those members, or at least some of them, have spoken pub
i think john boehner has made some really good statements. i think the president has made some good statements. one of the things that i learned was that you have to keep a couple of things in mind. deficit reduction in the end is political poison for the people that have to vote for it and so we really need to encourage the public, not just the decision makers, but the public to understand that this is an exercise in short-term pain to get long-term gain. that the objective here is to get a...
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Nov 16, 2012
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what did traders seem to say as you were getting comments from reid, pelosi, boehner and mcconnell? >> trading's so low on the lower end of the trading range, i mentioned yesterday, scott, 1340. we flirted with it today. 1343 the low in the cash. we bounced from there. bounce levels are 1370, 1395. the fact that we're just shy of that, just means that everyone is a little suspect of what's truly going to happen once these fiscal cliff dialogues ratchet up. i would be a seller of these bounces. >> what a significant pop seeing in the stock market, guys. throw up the dow industrials on an intraday. in fact, throw up all three intraday charts because you're going to see quite a dramatic reversal. the dow industrials up 48 points. highs of the day, again, down 50 to 60 points or so as the wraps wrapping up and positive comments of the leaders in the room with the president today. unless you have a rally on wall street and let's get to washington to the north lawn of the white house where john harwood is. this seemed to go as well as one could hope thus far, at least. >> reporter: i thin
what did traders seem to say as you were getting comments from reid, pelosi, boehner and mcconnell? >> trading's so low on the lower end of the trading range, i mentioned yesterday, scott, 1340. we flirted with it today. 1343 the low in the cash. we bounced from there. bounce levels are 1370, 1395. the fact that we're just shy of that, just means that everyone is a little suspect of what's truly going to happen once these fiscal cliff dialogues ratchet up. i would be a seller of these...
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Nov 15, 2012
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can boehner get there if that's the case? >> if you look at eliminations of deductions, exemptions, credits, it doesn't get to you where we need to comply with the budget control act so the fact that we are examining an opportunity to perhaps look at either on higher income earners, whether it's $1 million or higher as opposed to marrying ourselves to 250 is a step in the right direction. i think the fact that there is discussion on this front initiated by the speaker and behind closed doors we'll get in detail. for the first time we're close and why throw away the opportunity. >> can i just mention how many jokes joe would have made about being behind closeds doors and consummating and that whole thing and that's why joe needs to be on the show and he's not. i'm doing a poor job that he would have made seven or eight jokes would have been made. let me just ask jared, the 39.6 in my mind seems like it is a bottom line, a starting point an an end point for the president. can you envision a deal being done on the fiscal cliff t
can boehner get there if that's the case? >> if you look at eliminations of deductions, exemptions, credits, it doesn't get to you where we need to comply with the budget control act so the fact that we are examining an opportunity to perhaps look at either on higher income earners, whether it's $1 million or higher as opposed to marrying ourselves to 250 is a step in the right direction. i think the fact that there is discussion on this front initiated by the speaker and behind closed...
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Nov 19, 2012
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you see what nancy pelosi said, what john boehner has been saying. then you go back to the president's press conference taking a pretty tough decisive tone on susan rice and then you look at what's happening and also his position on the tax increases. take all of that together, it looks like more of the same. do you sense and from your reporting are we just having people circle each other or are their feet in stone? >> i think there's still some areas where people can get to the right place. the two things i keep thinking about is the business community, i think, what steve says is exactly right. it seems like from the outside, what they want more than anything is certainty. it's not just moment to moment. it's minute to minute. it's crisis to crisis. and that is an atmosphere that's not conclusive towards optimal economic activity. this notion of trying to get to long-term stability but not having short-term austerity measures would be too depressed on consumer activity seems like where we need to end up and a lot of pressure from republicans to the
you see what nancy pelosi said, what john boehner has been saying. then you go back to the president's press conference taking a pretty tough decisive tone on susan rice and then you look at what's happening and also his position on the tax increases. take all of that together, it looks like more of the same. do you sense and from your reporting are we just having people circle each other or are their feet in stone? >> i think there's still some areas where people can get to the right...
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Nov 16, 2012
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you ask yourself, what's it worth when boehner, pelosi, mcconnell, and reed all start talking nice to each other? it's worth 120 points on the dow. we're not far from the highs of the day. some hope we can get a modest rally. the vix has really collapsed going into the close. we're near the lows for the week on the vix. some of those closed end funds like pimco, high yield, phk also doing a little better today. finally, i'm going to mention home builders also a doing better on the day. back to you. >> okay. thank you very much, bob. well, thanksgiving is less than a week away, and the trend is growing for stores like walmart to be open for business that day. shoppers seem to love it, but workers, for obvious reasons, do not. >> yeah, some walmart workers are now pledging to walk out if they are forced to work on that holiday. walmart has already said they plan to open at 8:00 p.m. on thanksgiving. joining us now, a husband and wife, greg and charr lean fletcher, both employees of walmart. both scheduled to work different shifts on thanksgiving day. we welcome you. greg, you have said
you ask yourself, what's it worth when boehner, pelosi, mcconnell, and reed all start talking nice to each other? it's worth 120 points on the dow. we're not far from the highs of the day. some hope we can get a modest rally. the vix has really collapsed going into the close. we're near the lows for the week on the vix. some of those closed end funds like pimco, high yield, phk also doing a little better today. finally, i'm going to mention home builders also a doing better on the day. back to...
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Nov 12, 2012
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i think you heard john boehner say that already. we've had votes in the senate where we've actually gotten rid of tax credits. i think that's a given. and i think the vast majority of americans agree with that. the question is how do you do that and how do you allow taxes to rise at the same time you fix the real problem? and the real problem is uncontrolled entitlement spending and a government that has grown massively. not just under this administration, under republican administration. >> let me turn to senator schumer on this point. >> so you have to approach both sides of it. >> let me turn to senator schumer. i'm going to ask you the same question. if the mandate is compromised, what do democrats have to be prepared to accept as a painful outcome in order to achieve compromise? >> well, i agree with you, the mandate is compromise. that's why we have a divided house and senate. and i think if the house stands for anything it's cut government spending, as tom coburn said, and i think we're going to have to do more of it. we hear
i think you heard john boehner say that already. we've had votes in the senate where we've actually gotten rid of tax credits. i think that's a given. and i think the vast majority of americans agree with that. the question is how do you do that and how do you allow taxes to rise at the same time you fix the real problem? and the real problem is uncontrolled entitlement spending and a government that has grown massively. not just under this administration, under republican administration....
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Nov 14, 2012
11/12
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john boehner, he said it's going to take a long time to work this out. let's keep in mind here that will cost every american family $3500. what can you do by december 31? >> well, we can pass the republican bill that came through the house that is sitting in the senate. the economy is still going the wrong way. we have more americans on food stamps than ever before in history, and all he wants to do is talk about raising taxes. gerri: congressman cummings a pleasure to talk you tonight. thank you for coming on. >> absolutely. gerri: president obama pushing his tax agenda. but who didn't earn a seat at the table? small business. big mistake, mr. president, that's what my next guest says. he is the president of the american business week. welcome to the show. it is great to have you here. i was shocked. we have all big fortune 500 companies going into that room. the missing players were wall street, and also small business. >> i would tell them that einstein says we can't solve problems by using the same kind of thinking. obama went to big businesses a cou
john boehner, he said it's going to take a long time to work this out. let's keep in mind here that will cost every american family $3500. what can you do by december 31? >> well, we can pass the republican bill that came through the house that is sitting in the senate. the economy is still going the wrong way. we have more americans on food stamps than ever before in history, and all he wants to do is talk about raising taxes. gerri: congressman cummings a pleasure to talk you tonight....
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Nov 12, 2012
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continued uncertainty despite the president's comments and john boehner's comments. cheryl: we're looking at what we've been seeing over the last couple of months and you are saying kind of be prepared for that. a lot of the guests have come on and said you know, there's problems with earnings, but also you can't ignore that spike to the down side after the election. what did you make of all of that last week? what did you read into that? >> well, i mean, heading into the election, there was a lot of sentiment that the the market, the financial markets would have preferred a republican winner. cheryl: sure. fiscally more responsible if their view. -- in their view. >> correct. there's a few there's a lot of financial regulation presently and more to come. a lot of that at least from professional investors is probably where they were on wednesday. cheryl: they were waiting to see. >> i think that's going to settle off. i don't think you will see 300 point swings. you might see back again -- i'm quoting that period of july and august 2011, you could see 100, 150 on any
continued uncertainty despite the president's comments and john boehner's comments. cheryl: we're looking at what we've been seeing over the last couple of months and you are saying kind of be prepared for that. a lot of the guests have come on and said you know, there's problems with earnings, but also you can't ignore that spike to the down side after the election. what did you make of all of that last week? what did you read into that? >> well, i mean, heading into the election, there...
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Nov 19, 2012
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. >> coming up tonight at 7:00 eastern, the president and speaker boehner act like they will steer clear of the cliff. and david petraeus comes clean on benghazi, sort of. what was really going on? former pacific police commander with his fascinating theory tonight 7:00 eastern. stuart: the management at hostess, the twinkie people says the baker's union forced the company into liquidation. the union workers blame bad management. tom, who killed the twinkie? tom: the union has a responsibility tot go and get as much as they can but not kill the golden goose, but the management whether it's general motors or whether it's hostess has a responsibility to not sign contracts and make promises they can't afford. i think it was a badly managed company. stuart: interesting. interesting. next case, black friday, one of wal-mart's biggest days of the year, now wal-mart is facing an employee uprising of sorts. a group that wants to unionize is trying to lead a protest against wal-mart on black friday, big day for retailers, day after thanksgiving. >> i think they had something to do with killing tw
. >> coming up tonight at 7:00 eastern, the president and speaker boehner act like they will steer clear of the cliff. and david petraeus comes clean on benghazi, sort of. what was really going on? former pacific police commander with his fascinating theory tonight 7:00 eastern. stuart: the management at hostess, the twinkie people says the baker's union forced the company into liquidation. the union workers blame bad management. tom, who killed the twinkie? tom: the union has a...
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Nov 13, 2012
11/12
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to be speaker boehner, a lot of publicans running with tail between their tails here. on deep end like tax, immigrations and reform. they may be caving onssues that tea partiers held near and dear. dick armey, a big tea party player, freedom works, how do you feel about that for one of a better term, dressing down on part of speaker boehner on republican troops, tea partiers included. many, made him the speaker. >> well, let me say i love john boehner like a brother, i don't envy him the position he is in. but i am also reminded of what ronald reagan taught us years ago, good polic makes good politics, john boehner needs to emphasis economic growth, is the way to get increed revenue. and there is two ways to -- two imperatives, dress down reduce, and discipline our government run among so there is confidence to grow in private sector then a tax system that accommodates that growth. you will dress a tax system of this country, from theoint of view of what is fair, have you taken the most simple minded way to address taxes. taxes are about raising the necessary revenue t
to be speaker boehner, a lot of publicans running with tail between their tails here. on deep end like tax, immigrations and reform. they may be caving onssues that tea partiers held near and dear. dick armey, a big tea party player, freedom works, how do you feel about that for one of a better term, dressing down on part of speaker boehner on republican troops, tea partiers included. many, made him the speaker. >> well, let me say i love john boehner like a brother, i don't envy him the...
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Nov 14, 2012
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how will it affect the upcoming talks with john boehner? two top-tier negotiators give their insight into how the meeting could unfold. >>> and trading places. charles schwab ceo talks exclues i havely to maria about the current crisis of confidence in the stock market. could a deal on the looming fiscal cliff be just the shot in the arm sagging equities need? that and a whole lot more is ahead on the "closing bell." >>> all right. we want to show you a live picture of the white house. we are waiting for the ceos to start tricking out of the white house. they are in a meeting right now with president obama talking about the fiscal cliff, talking about ways to get the deficit and debt situation in this country in order. as soon as those ceos start coming out, they include the ceo of honeywell, ibm, a number of ceos in industrial businesses. of course, the only financial services representation there is american express. no other bank was invited to this meeting. as soon as these guys and gals start walking out, we'll bring you some interview
how will it affect the upcoming talks with john boehner? two top-tier negotiators give their insight into how the meeting could unfold. >>> and trading places. charles schwab ceo talks exclues i havely to maria about the current crisis of confidence in the stock market. could a deal on the looming fiscal cliff be just the shot in the arm sagging equities need? that and a whole lot more is ahead on the "closing bell." >>> all right. we want to show you a live picture...
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Nov 13, 2012
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there are -- boehner says down payment now. buy the boehner down payment zbh i don't like the down payment. i would be sorely disappointed if we missed this opportunity. i think somebody was telling me today the budget act of 1990 took 12 days to put in place. we know what all the issues are. i hope we won't be lacking courage just to go ahead and deal with big pieces of this. so -- i am in a different place than you on this. i think we ought to deal a -- in a big way with the fiscal reform. >> you want to grant design. that's very -- interesting point of view. >> doesn't have to be grand. we play to take two bites at it, debt ceiling coming up which i think, by the way, debt ceiling is the more important day personally than the fiscal cliff issue because we are not fiscal cliff is not going to happen. okay. simply is not going to happen. so -- to me, the focus ought to be on solvency and if we can deal with that and take a big step out of that, big step towards solving that, during this december, i agree with you. i think the
there are -- boehner says down payment now. buy the boehner down payment zbh i don't like the down payment. i would be sorely disappointed if we missed this opportunity. i think somebody was telling me today the budget act of 1990 took 12 days to put in place. we know what all the issues are. i hope we won't be lacking courage just to go ahead and deal with big pieces of this. so -- i am in a different place than you on this. i think we ought to deal a -- in a big way with the fiscal reform....
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Nov 13, 2012
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john boehner says we will talk more tax revenue in an overall tax system but we won't discuss without entitlement reform. that is the key for republicans. they will do tax revenue but it has got to be part of an overhaul of the tax system and has to involve medicare, medicaid and social security. exactly what, folks. but white house don't want to. melissa: leaders in d.c. are scrambling to figure this out but our first guest says he really does fear we're going to hit the fiscal cliff. think of while e. coyote and the acme parachute. scott hodge is president of the tax foundation. you are well known for innovative ideas on tax policy. in the 1990s you campaign to include a child credit in capital gains tax cuts. what is your best idea this time around? >> the best idea right now is for everybody to take a deep breath and pumped into next year. all the tax cuts should be extended for one more year to give congress and the white house some extra time to get off of their political posturing and make a rational deal between them. this is the worst time of year to make some sort of deal. t
john boehner says we will talk more tax revenue in an overall tax system but we won't discuss without entitlement reform. that is the key for republicans. they will do tax revenue but it has got to be part of an overhaul of the tax system and has to involve medicare, medicaid and social security. exactly what, folks. but white house don't want to. melissa: leaders in d.c. are scrambling to figure this out but our first guest says he really does fear we're going to hit the fiscal cliff. think of...
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Nov 14, 2012
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lori: what do you think takeaway -- >> by the way neither can john boehner, good point. what is the takeaway among the best solutions for the fiscal cliff among all the people you talk to? >> the most intelligent thing to do here, i know a lot of people won't like this, to defer the decision until people come in with a new congress. we have a new congress coming in with the president beginning his second term and take at least section to nine months to resolve the tax --. melissa: here comes the president right now. first news conference since re-election. let's listen in. >> i hear you have some questions for me but, let me just make a few remarks at the top and then i will open it up. first i want to reiterate what i said on friday. right now our economy is still recovering from a very deep and damaging crisis. so our top priority has to jobs and growth. we've got to build on the progress that we've made because this nation succeeds when we've got a growing thriving middle class. that is the idea a the core of the plan that talked about on the campaign trail over the l
lori: what do you think takeaway -- >> by the way neither can john boehner, good point. what is the takeaway among the best solutions for the fiscal cliff among all the people you talk to? >> the most intelligent thing to do here, i know a lot of people won't like this, to defer the decision until people come in with a new congress. we have a new congress coming in with the president beginning his second term and take at least section to nine months to resolve the tax --. melissa:...
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Nov 16, 2012
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the most interesting thing, though, from the boehner aide was that john boehner believes there is not enough time from now until the end of the year to actually have a grand bargain. there's enough time, though, to put together the framework for what a grand bargain would look like. essentially have the top lines agreed to that by sometime in 2013 you could have both the chambers, the senate and the house, come together on some substantial tax reform, entitlement reform, and get rid of the sort of automatic cuts that we see as a sequester, and the tax increases and have a mechanism you can replace them with. listen to the congressional leaders in their photo op in the white house before thanksgiving that they had today. >> we've put revenue on the table, as long as it's accompanied by significant spending cuts. >> we have a cornerstones of being able to work something out. we're both going to have to give up some of the things that we know are a problem. >> we should have a goal in terms of how much deficit reduction. we should have a deadline before christmas. >> we fully understand
the most interesting thing, though, from the boehner aide was that john boehner believes there is not enough time from now until the end of the year to actually have a grand bargain. there's enough time, though, to put together the framework for what a grand bargain would look like. essentially have the top lines agreed to that by sometime in 2013 you could have both the chambers, the senate and the house, come together on some substantial tax reform, entitlement reform, and get rid of the sort...
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Nov 15, 2012
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boehner had agreed to $800 billion. it's not hard to find $1.2 trillion as a kind of middle ground to that. then you want to have $4 trillion of total deficit reduction, so that leaves $2.8 trillion of spending reductions that have to happen. here's what people miss. we can avoid going over the cliff with the stroke of a pen. they can just extend all this stuff and kick the can down the road. the real question is are we going to have a big deal? are we going to agree on the major spending restraints that we need as well as the tax stuff in order to actually get the deficit under control? and i think the betting on that is less than 50%. i think we have a great shot at it. but it's going to be really, really hard. >> is that the view from wall street, too? they're not totally confident that this is going to happen? >> what you see in the stock market at the moment is that wall street is not totally confident. that's for sure. >> all right. steve, thanks so much. >> pleasure. >>> coming up, independent senator-elect of ma
boehner had agreed to $800 billion. it's not hard to find $1.2 trillion as a kind of middle ground to that. then you want to have $4 trillion of total deficit reduction, so that leaves $2.8 trillion of spending reductions that have to happen. here's what people miss. we can avoid going over the cliff with the stroke of a pen. they can just extend all this stuff and kick the can down the road. the real question is are we going to have a big deal? are we going to agree on the major spending...
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Nov 18, 2012
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you know, when john boehner appears, they say are you willing to accept higher rates. no one says what are you going to do about entitlements or anything, there's no question of the president whether he will compromise and what that would look like. >> paul: steve, what do you think the republicans ought to do here? is there a way out for them or are they going to be pushed back into a corner where they have no choice, but to concede that they have to raise tax rates or else go over the cliff and get blamed for that? >> well, it's a tough situation for them. there's no question about it because as you know, the default position, if we don't do anything is for the taxes to go up on everybody on january 1st, and that's something i think both sides want to avoid. it's very interesting, the thing that happened this week to start the week, was who was the first person that barack obama met with in the white house since his election, the labor unions, the labor block, that tells a lot who is driving policy at least at the start of the second term? and the labor unions basica
you know, when john boehner appears, they say are you willing to accept higher rates. no one says what are you going to do about entitlements or anything, there's no question of the president whether he will compromise and what that would look like. >> paul: steve, what do you think the republicans ought to do here? is there a way out for them or are they going to be pushed back into a corner where they have no choice, but to concede that they have to raise tax rates or else go over the...
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Nov 18, 2012
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before hand, speaker boehner had a hard time getting some of his more conservative members to buy in to certain concrete hiatt -- compromises. going forward, we will have to see if the tea party conservatives will seem to have the same support. the president now has the upper hand and when he talks to speaker boehner he will have to take that message back and he gets a little bit more behind him. >> week and a shop with a meeting between the leaders and the white house. what is the dynamic? >> it will be very interesting to see. hopefully we will hear from them exactly what their conversation was with the president. it is unlikely that we're going to see a detailed agreement on specific issues. are we going to hear about tax breaks or how entitlement reform is going to happen in the deal? on not sure. these figures are going to be out there. they're all going to be scrambling to set the tone in the way that they want to set it. of they will have discussions like the democratic leaders also say let these are the areas where we made clear to republican leaders where we are not going to
before hand, speaker boehner had a hard time getting some of his more conservative members to buy in to certain concrete hiatt -- compromises. going forward, we will have to see if the tea party conservatives will seem to have the same support. the president now has the upper hand and when he talks to speaker boehner he will have to take that message back and he gets a little bit more behind him. >> week and a shop with a meeting between the leaders and the white house. what is the...
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Nov 17, 2012
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president obama state what his position is, which honestly everyone already knows and house speaker john boehner stated what his feeling is on dealing with the fiscal cliff. and that sort of perfunctory here's my position sort of gave way to a back and forth between these two leaders. nothing was settled, but the tone was reportedly good and both republicans and democrats in the room seemed aware this would come down to dealing with tax reform and entitlement reform, and the source told me when the president raised the issue of increasing revenue, there was no, "no, we're not going to do that" from republicans, and when republicans talked about entitlement reform, the president agreed that was something that has to be done. >> well, it sounds good, but do you think when it comes down to the brass tacks both sides are actually ready to bend a bit? >> reporter: i think they're ready to bend than they were going into that whole debacle that was the debt situation. there are some specifics that need to be sorted out for sure, exactly how to raise revenue. as you know, democrats would like to raise t
president obama state what his position is, which honestly everyone already knows and house speaker john boehner stated what his feeling is on dealing with the fiscal cliff. and that sort of perfunctory here's my position sort of gave way to a back and forth between these two leaders. nothing was settled, but the tone was reportedly good and both republicans and democrats in the room seemed aware this would come down to dealing with tax reform and entitlement reform, and the source told me when...
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Nov 12, 2012
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. >> what kind of hand does john boehner have? where sg it leave him and his ability to control the tea party wing? >> it actually puts skron boehner in a good position because during the debt ceiling talks last year, he had a lot of push back from the very far right of his party in the house. the tea party caucus, for example. this time around we won't see the same dynamic at all because the tea party caucus and far right have lost a lot of political capital in light of the election. so what we've already seen is speaker boehner talking to republicans in the house, putting his foot down early and saying we're not going to have that same push back we saw. instead, i'm going to tell you what we're going to do and what this deal is going to look like and you'll fall into line. >> he got criticism because he negotiated a deal and then went back and tried to sell to the party. does he naed to do he need to d way around, get a set position and then go into discussions? >> i think that is the thinking this time around. and he has certai
. >> what kind of hand does john boehner have? where sg it leave him and his ability to control the tea party wing? >> it actually puts skron boehner in a good position because during the debt ceiling talks last year, he had a lot of push back from the very far right of his party in the house. the tea party caucus, for example. this time around we won't see the same dynamic at all because the tea party caucus and far right have lost a lot of political capital in light of the...
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Nov 16, 2012
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house speaker john boehner. >> i outlined a framework that deals with reforming our tax code and reforming our spending. i believe that the framework that i've outlined in our meeting today is consistent with the president's call for a fair and balanced approach. >> of course, the interview that we had, carl quintanilla and i had on "squawk on the street" with senator kent conrad, the outgoing chairman of the senate budget committee, suggested a potential compromise on how to get top end tax increases. conrad said it's possible to get the amount of revenue you need. if you keep the top rate at 35%, raise cap gains and dividend rates and cut deductions for the top end. no sign that's going to be embraced in the end but at least it shows there's some bargaining room and space for these two parties to come together, brian. >> john harwood, thank you very much. i'm sure we'll see much more of you from the white house over the next couple of days. maybe even weeks, john. thanks very much. >>> so what exactly is big business' role in all of this? john engler, president of the business roundtable
house speaker john boehner. >> i outlined a framework that deals with reforming our tax code and reforming our spending. i believe that the framework that i've outlined in our meeting today is consistent with the president's call for a fair and balanced approach. >> of course, the interview that we had, carl quintanilla and i had on "squawk on the street" with senator kent conrad, the outgoing chairman of the senate budget committee, suggested a potential compromise on how...
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Nov 19, 2012
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two, house leader boehner has to get re-elected by his party in january. he's not going to put a big deal in front of that. flip side is, no deal. i don't think the president will let that happen because he doesn't want to start his second term as president the way he started the first which was in a recession. but finally, what people fail to forget -- congress needs to go home for holidays. if they go home with no deal they will be criticized by their constituents. >> there are very few working days left when congress comes back from this thanksgiving break. >> remember what happened. t.a.r.p.? they didn't approve it. went home for the holidays, got criticized, came back and approved it. >> you see some stort of stopgap that averts the immediate tax hikes an spending cuts as of january 1, and that there is then some commitment to do a broader tax reform in 2013. >> correct. >> and that might be tied to raising of the debt ceiling. might'nt it. >> i think that's the next big date, mid-february when the treasury runs out of money, the debt ceiling is hit.
two, house leader boehner has to get re-elected by his party in january. he's not going to put a big deal in front of that. flip side is, no deal. i don't think the president will let that happen because he doesn't want to start his second term as president the way he started the first which was in a recession. but finally, what people fail to forget -- congress needs to go home for holidays. if they go home with no deal they will be criticized by their constituents. >> there are very few...
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Nov 12, 2012
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when you see boehner calling the caucus and say, hey, let's aavoid the nasty showdowns. that's saying let's not be hostage takers. you see obama learning how to deal with the caucus. let's extend the middle class tax cuts, right now, let's do it. he puts them in a bad position and making it look like, look, middle class, they are not giving you what you need. so learning how to work with them, learning that we have to have some compromise, i see some tea leaves that we may have a better next couple of years. we'll see. >> it will be interesting, if a deal is struck. i don't think it will nearly as good as for republicans as the deal that the president offered them. the grand deal that had been offered before. you know, in some ways i actually think the problem for republicans and for conservatives is that a lot of their ideas and principles have actually won. you know, since ronald reagan we no longer have 70% tax rates on the highest income earners. nobody is arguing for that. we're arguing to go back to 39.6%. on health care reform, the president's health care reform w
when you see boehner calling the caucus and say, hey, let's aavoid the nasty showdowns. that's saying let's not be hostage takers. you see obama learning how to deal with the caucus. let's extend the middle class tax cuts, right now, let's do it. he puts them in a bad position and making it look like, look, middle class, they are not giving you what you need. so learning how to work with them, learning that we have to have some compromise, i see some tea leaves that we may have a better next...
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Nov 14, 2012
11/12
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the president didn't offer any specific thing along the lines what have we heard from john boehner last week, okay, we're there on reven on the table, we'll meet you there. i didn't hear any specific -- >> don't we already have a structure? wasn't that erskine-bowles? it is another committee. >> it is a step back i think from the idea of a deal right now that would trade entitlement reform for tax increases. it sounds to me like it's tax increases for the wealthy in return for a commitment to discuss entitlement reform. >> what you did hear from the president is a statement that the american people knew what they were get what they re-elected me. he also said there is a big contrast between me and mitt romney on the campaign trail and i'm the guy who won the election. >> as one of our smart viewers tweeted in which i thought was so smart -- it's all fun and games until you have to name specific entitlements you want to cut. right? we need more specifics from both sides. all right, going to a break here but after the break, steve leisman, stick around. we also have something today called
the president didn't offer any specific thing along the lines what have we heard from john boehner last week, okay, we're there on reven on the table, we'll meet you there. i didn't hear any specific -- >> don't we already have a structure? wasn't that erskine-bowles? it is another committee. >> it is a step back i think from the idea of a deal right now that would trade entitlement reform for tax increases. it sounds to me like it's tax increases for the wealthy in return for a...
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Nov 17, 2012
11/12
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that's what boehner wants to do. what boehner said the day after the zbl the -- >> no, let me pick you up on that. that would be very bullish. i happen to totally agree with you. and that's exactly what speaker john boehner wants to do. that is precisely what he wants to do. essentially have tax reform and have entitlement reform and have it laid out so it it all gets done next year. this year is the down payment. >> that's right. >> now, don, is it too early, though, to make a bet on any of this? that's really what i'm asking. between now and year end, when the bush tax cuts expire at year end, what's a stock market investor to do? you're going to go up, you're going to go down. you saw today you had a is 00-point swing. but that's no way to be invested. what is your advice on how investors play this fiscal debate? >> i understand the sentiment that the wise thing to do is to take a long-term perspective. but every once in a while we experienced this in the summer of 2008. we're experiencing it again now. every once
that's what boehner wants to do. what boehner said the day after the zbl the -- >> no, let me pick you up on that. that would be very bullish. i happen to totally agree with you. and that's exactly what speaker john boehner wants to do. that is precisely what he wants to do. essentially have tax reform and have entitlement reform and have it laid out so it it all gets done next year. this year is the down payment. >> that's right. >> now, don, is it too early, though, to make...
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Nov 13, 2012
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after the election, boehner came out, thought he'd move some, and then obama came out the next day, and in the early part of his speech, he looked good. and all of a sudden he starts digging in. if you look at what the stock market did, it immediately dropped. came back a little bit that day, but immediately dropped. that's what's in people's minds and it's scaring the heck out of them. we have to have some solution. >> when we look to europe, it's a very similar scenario. we have all these issues revolving around greece and maybe to a lesser extent, spain, and it seems about the same dynamics. that it isn't results oriented, it's idle the car and hope things get better while you're sitting in there, hunkered down. >> that's absolutely the case. they have been spinning their wheels. fortunately for us, we've gotten away from the european situation, somewhat. because it looks like our economy can gain some traction. but it's immediately going to grind to a halt if we don't see something. >> you know, there's one area, there's one area that doesn't have the luxury to postpone results. and
after the election, boehner came out, thought he'd move some, and then obama came out the next day, and in the early part of his speech, he looked good. and all of a sudden he starts digging in. if you look at what the stock market did, it immediately dropped. came back a little bit that day, but immediately dropped. that's what's in people's minds and it's scaring the heck out of them. we have to have some solution. >> when we look to europe, it's a very similar scenario. we have all...
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Nov 16, 2012
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dagen: john boehner speaking outside the white house flings by senator harry reid. listen to him. >> our meeting today, what the president called for a fair and balanced approach to show our seriousness we put revenue on the table as long as it is the company for significant spending cuts and we are going to continue the revenue on the table, over my colleagues to show the american people we are serious about cutting spending, solving our fiscal -- i believe we can do this and other the fiscal cliff that is right in front of us today. >> this isn't the first time we have dealt with these issues. we feel we understand what the problem is and we felt very good about what we were able to talk about. we have the cornerstones of being able to work something out. we are both having to give up some of the things we know are a problem and so it is like the point where we all know something has to be done, no other time than to do it now. we feel comfortable with each % other and something we will wait until the last day of december to get done. we will move forward on it an
dagen: john boehner speaking outside the white house flings by senator harry reid. listen to him. >> our meeting today, what the president called for a fair and balanced approach to show our seriousness we put revenue on the table as long as it is the company for significant spending cuts and we are going to continue the revenue on the table, over my colleagues to show the american people we are serious about cutting spending, solving our fiscal -- i believe we can do this and other the...
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Nov 14, 2012
11/12
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john boehner still in the house. you are still at the treasury. the president is back in the office. harry reid is in the senate with more seats -- why should i believe this will end any more positively than the summer of 2011? >> i will not try to talk to about optimism, but let's look at what has changed. you have republican leadership acknowledging relief for the first time in this debate in public that they would agree to increase revenues as part of an agreement to help restore fiscal balance. that is a very important change. you could debate what has motivated that change, and of course it is true that that approach has very popular substantial support among the american people. you have a much greater recognition that the economy would benefit from a carefully designed balanced agreement on fiscal reform. putting that off indefinitely is not good for the country. that is important, too. i think, again, if you listen carefully to what people are saying and what many politicians are saying, there is a lot of consensus on the things that would
john boehner still in the house. you are still at the treasury. the president is back in the office. harry reid is in the senate with more seats -- why should i believe this will end any more positively than the summer of 2011? >> i will not try to talk to about optimism, but let's look at what has changed. you have republican leadership acknowledging relief for the first time in this debate in public that they would agree to increase revenues as part of an agreement to help restore...
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Nov 19, 2012
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i don't think john boehner is sitting there, nancy pelosi is on the other end going no tax increases for the rich. i don't. lori: is creating another sequester. >> just wish it out a little bit? melissa: bigger, batter. -- badder. >> if they kick it down the road, to the tax rates stay in place? lori: that wasn't addressed. we need to exhale, lest the new congress come in and just -- >> the new congress is a lot like the old congress. lori: give policymakers a break because we're still so he did. >> the last downgrade did not matter much. this downgrade could, who knows, but i am saying we can n could o longer have a split rating the u.s. would be below aaa, and that hits the initial contract operate differently. world market might become a little bit more unglued. i will say this, based on that list what we heard late last week summerlike compromisers can make it do feel that bowles and simpson are in the middle of that. they're about compromise, it cutting a deal in getting through this. so we will see. melissa: charlie gasparino, thank you so much. >> can only give you what i'm ge
i don't think john boehner is sitting there, nancy pelosi is on the other end going no tax increases for the rich. i don't. lori: is creating another sequester. >> just wish it out a little bit? melissa: bigger, batter. -- badder. >> if they kick it down the road, to the tax rates stay in place? lori: that wasn't addressed. we need to exhale, lest the new congress come in and just -- >> the new congress is a lot like the old congress. lori: give policymakers a break because...
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Nov 16, 2012
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president obama and john boehner almost got a deal in 2011. that's a place to pick up the discussions and i think you saw the president econfident there just winning the election there and house republicans back in the majority in the house and that's the dance to the finish line and i think they will. >> politico talked about whether or not the white house has learned its lesson in going into a room, a bunker, with the speaker, since it didn't work out the way they wanted last time around. do you think the president will be as involved or can he hand this off to someone else to negotiate? >> i think he'll be as involved. i think he'll be involved inside the room and outside of the room. the strategic turn the president made in fall of 2011 after the failure of the talks, he took the case to the public. i don't think he'll stop doing that. he'll try to keep the pressure on say i got mandate to raise taxes for people at the top. if you are willing to accept that, we'll get a deal. >> there code words you'll look for afterwards to see whether or
president obama and john boehner almost got a deal in 2011. that's a place to pick up the discussions and i think you saw the president econfident there just winning the election there and house republicans back in the majority in the house and that's the dance to the finish line and i think they will. >> politico talked about whether or not the white house has learned its lesson in going into a room, a bunker, with the speaker, since it didn't work out the way they wanted last time...